Loot Chain, considered the engine for the LootVerse, operates as a Layer-2 chain powered by Caldera, which offers lower gas fees, faster transaction speed, and much better scalability. Built specifically for Loot Verse enthusiasts, this layer is meant to improve asset management and community governments.
Connected to the Loot Verse, Adventure Gold (AGLD) is the native token created for the Loot Project. It’s an ERC-20 token based on Ethereum empowering the in-game economy and is used in exchange for NFTs in the Loot Project.
Adventure Gold (AGLD) and Loot Chain Layer 2
Built on Ethereum, Loot Chain Layer 2 hopes to address scalability and transaction issues while improving the transaction throughput. Loot Chain Layer 2 is based on Ethereum’s Layer 2 scaling system. Featuring Optimistic Rollups and ZK-Rollups, the transactions aggregate off the chain and present as a single transaction before moving to on-chain.
Moreover, since this Chain Layer-2 is specifically built for Lootverse, the users can also benefit from optimized smart contracts facilitating game mechanics and asset management while streamlining community governance.
As a high-performance and customizable layer-2 blockchain, Loot Chain is deployed on Caldera. Boasting low latency and customizable features, it streamlines the performance and user experience of decentralized applications.
According to the team, Loot Chain Layer 2 is important for Lootverse’s expansion. It will bring much-needed scalability to the platform while supporting developers, gamers, and creators. The reduction in gas fees is certainly going to help with decentralized applications, including games and NFT trading platforms.
The infrastructure Loot Chain Layer 2 will build for the Loot ecosystem will also streamline Loot NFTs and actively participate in the platform’s activities due to easier access.
Gaming Centric Layer 2 and How it Connects with Adventure Gold
Lootverse is host to four games, namely Dice Game, League of Thrones, Gabby World, and LootCraft. When adapted to Layer 2, these games and future ones will experience higher transaction speeds and costs, leading to a better user experience. Transactions in these blockchain-based games are done off-chain and bundled before they are submitted to the main chain.
Such high-speed transactions have proven crucial for the decentralized gaming ecosystem with real-time interaction and large-scale participation.
Adventure Gold provides pre-installed infrastructure modules that developers can use to build and customize gaming mechanisms. The open-source infrastructure is built on-chain and it’s interoperable. This paves the way to build an open game ecosystem allowing developers to upload their Lootverse dApps.
Such a gaming ecosystem increases the possibilities of designing games as it creates more opportunities for the developers to innovate game development.
How Adventure Gold Helps the Gaming Community?
Adventure Gold (AGLD) also supports game developers with the essential infrastructure to support their adventures. Using this asset, developers can create customized game chains. Additional features include;
- Visualization dashboard allows players to visualize their loot bags, maps, and game data.
- It gives them a medium of exchange for players to exchange resources and empower incentives mechanisms.
- A decentralized identity (DID) that stores and records player’s skills and adventures in different games and layers.
- It also powers the Smart Bridge, which is a cross-chain platform players can use to interoperate between Loot chains.
The gameplay system allows game developers and players to combine, construct, and experiment with different gameplay elements and mechanics.
Adventure Gold (AGLD) as a Governance Token
One of the key applications of the AGLD token is community governance and becoming a member of Adventure Gold DAO. Holders of the token can vote for better governance of the gaming ecosystem. This includes helping in decision making of external projects and issuance of protocol parameters. Hence this is going to be instrumental in shaping the future of LootVerse, especially when it’s connected with Layer 2 Chain development.
AGLD DAO was formed to serve the community better and provide them with more utilities where it will improve gaming experiences through utilizing the Loot NFT components.
Since its launch, AGLD DAO has boarded some great games onto the Loot Chain, including LootCraft, Mighty Magic Heroes, Land Labor and Capital, and Gabby World. An example of its rapid adoption is 160,000 unique addresses joining the platform, which saw 2.7 million transactions, taking the transaction rate up by 4.7X in only 6 weeks.
There are changes proposed for the AGLD DAO community to consider, one of which is introducing a new smart contract system integrated with Llama. The purpose is to ensure AGLD DAO securely implements the token governance, on-chain roles, and treasury management without writing even a single line of code.
While concerns may arise to this move as Llama’s smart contracts are open-source and permissionless, AGLD agrees to own and control their instance independently.
With multiple aspects running simultaneously, there will be more noteworthy news in the future that’s important to track. So, stay tuned for more such updates.
